Bitcoin has had a wild ride this year. Cryptocurrencies and the blockchain technology have become trendy topics and hit the headlines of major newspapers around the world; people, who previously knew very little about finance, suddenly became investors and crypto-traders. That’s why to finish up the year in a proper fashion, CFA Association Russia held its last professional event of the year, focusing on, of course, none other than cryptocurrencies.

The event took place at the Mazars Russia office, which has become CFA Russia’s trusting partner in 2017. Over 40 people came to the event despite the busy week before the New Year.

CFA Russia invited expert Konstantin Korischenko, a professor of finance at the Russian Presidential Academy of National Economy and Public Administration (RANEPA) and former deputy-chair of the Central Bank of Russia, to talk about the current state of cryptocurrencies, in particular, focusing on the digital currencies of central banks (CBDC and CBBC).

When it comes to a relationship between regulators and the blockchain technology there are a few people who know these topics better than Korischenko. The speaker drew parallels between regular, centrally-governed currencies and cryptocurrencies, as well as the details of their control and production.

While we are all familiar with traditional “fiat” money, not everyone understands the ins and outs of cryptocurrencies and the blockchain technology, as they are still quite recent, very volatile, and unpredictable.

He added that although a lot of people today are buying bitcoin and other cryptocurrencies, mostly as high-risk investment tools, the digital tokens are far from replacing the traditional money. From what it currently looks like, especially taking into an account a few security issues, the fiat money is here to stay.

Professor Korischenko, however, was quite optimistic about the whole blockchain thing. The technology behind blockchain, its ease, availability, and cost saving can go a long way. There are definitely many interesting and promising opportunities with blockchain the future, said the speaker.

A full video of the lecture is available for members of CFA Association Russia. You may join the association here.